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Florida continues to a hotbed for credit union bank acquisitions. (Source: Shutterstock)

The $654 million Power Financial Credit Union in Pembroke Pines, Fla. said Wednesday it signed a definitive agreement to buy the $204 million TransCapital Bank in Sunrise, the fourth proposed bank acquisition made by a Florida credit union in the first quarter.

Financial terms of the deal were not disclosed, though reportedly the credit union will purchase all of the issued and outstanding shares of the bank. The acquisition is expected close in the third quarter pending regulatory and shareholder approvals.

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Peter Strozniak

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